Hashtag: #BankOfButterfield

The Bank of Butterfield announced that, in step with today’s 25 basis point increase in the US Federal Funds Rate, the Bank is adjusting its interest rates on fixed-term deposits and loans.
Deposit Rates
“To provide customers with the opportunity to earn higher returns on Bermuda dollar and US dollar deposits, rates paid on fixed-term deposits... Read more of this article

The Bank of Butterfield has “commenced the mass reissue of its Debit Mastercard Cards with both ‘Chip and PIN’ technology and the contactless ‘RFID’ payment technology,” the company said today.
“This means the security of the Card has been enhanced and you now have the option of a quicker checkout process.... Read more of this article

Butterfield has confirmed a “restructuring” has resulted in 23 jobs being lost, with thirteen of those in Bermuda. The other six jobs are in the Cayman Islands, while four are in Guernsey.
“Customer services will not be impacted by the changes,” Butterfield said, with the company also noting that in calendar 2018, Butterfield... Read more of this article

In a filing with the Bermuda Stock Exchange [BSX], The Bank of N.T. Butterfield & Son Limited announced the appointment of Michael Neff, Managing Director, Bermuda.
The filing stated, “The Bank of N.T. Butterfield & Son Limited today appointed Michael Neff, Managing Director, Bermuda in which capacity he will be responsible for Butterfield’s... Read more of this article

Michael Collins, Butterfield’s Chairman and Chief Executive Officer rang the New York Stock Exchange [NYSE] Closing Bell on July 23rd to commemorate the company’s 160th anniversary, with members of the Bank’s Board of Directors joining Mr Collins at the Bell Podium.According to their website, “Butterfield is Bermuda’s first bank,... Read more of this article

The Bank of N.T. Butterfield & Son Limited today announced financial results for the quarter ended June 30, 2018.
Second quarter core net income was $51.7 million, or $0.93 per diluted common share, compared to $45.0 million, or $0.81 per diluted common share in the previous quarter and $37.5 million, or $0.67 per diluted common share, for the... Read more of this article

The Bank of Butterfield announced that it will not increase interest rates on residential mortgages or Bermuda dollar consumer loans in response to the 25 basis point increase in the US Federal Funds Rate, and will increase interest rates on fixed-term deposits.
Deposit Rates
The Bank said, “To provide customers with the opportunity to earn higher... Read more of this article

The Bank of Butterfield announced the pricing of a registered offering of $75 million aggregate principal amount of Butterfield’s 5.25% Fixed to Floating Rate Subordinated Notes due 2028.
“Butterfield intends to use the net proceeds from this offering to repay a portion of its outstanding indebtedness and for other general corporate purposes,”... Read more of this article

The Bank of N.T. Butterfield & Son Limited announced financial results for the quarter ended March 31, 2018.
First quarter core net income was $45.0 million, or $0.81 per diluted common share, compared to $42.2 million, or $0.76 per diluted common share for the fourth quarter of 2017 and $38.5 million, or $0.70 per diluted common share, for the... Read more of this article

[Updated with photos] The Butterfield Bermuda Grand Prix, coordinated by the Bermuda Bicycle Association, is taking place this weekend, with three days of cycling action, and you can tune in live to watch this morning’s [April 21] race below.
The Grand Prix takes place over a three-day period starting with the Hill Climb Time Trial which was... Read more of this article

In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son Limited announced the results of the AGM vote.
The filing stated, “The Bank of N.T. Butterfield & Son Limited announced the results of the Shareholders’ vote at the Bank’s 114th Annual General Meeting held earlier today.
“Each of the proposals numbered... Read more of this article

Craig Barley [pictured] has joined Butterfield Trust [Bahamas] Limited as Managing Director, where he will have overall responsibility for the management and development of Butterfield’s Bahamas-based trust business, which is a key part of Butterfield Group’s global network of trust companies.
Originally from the UK, Mr. Barley was most recently... Read more of this article

The Bank of Butterfield has completed the acquisition of the Deutsche Bank Global Trust Solutions business [excluding US operations].
Former GTS employees and accounts have successfully transitioned to Butterfield and all trust and fiduciary services for former GTS clients will be conducted from Butterfield locations in the Cayman Islands, Guernsey,... Read more of this article